Assume Bolivia and Chile use the same amount of resources to produce tin and copper. Figure 2 represents their production possibilities curves. Use it to answer problems 1 through 4. F igure 2 11eb63b1_9df8_a06b_9b37_a35621f1e7a9_SM2813_00 Algeria has a negative trade balance of $7 billion. If it has a positive balance of goods of $10 billion, how much is its balance of services?

Macroeconomics 11th Edition by Stephen Slavin

Edition 11ISBN: 978-0077641559

Macroeconomics 11th Edition by Stephen Slavin

Edition 11ISBN: 978-0077641559

Exercise 46

Assume Bolivia and Chile use the same amount of resources to produce tin and copper. Figure 2 represents their production possibilities curves. Use it to answer problems 1 through 4.
F igure 2

Algeria has a negative trade balance of $7 billion. If it has a positive balance of goods of $10 billion, how much is its balance of services?

Explanation

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Trade balance of any country is the sum ...